All residential real estate sales involves certain costs. Buyers and sellers customarily split these costs, as specified in the sales contract.
Many of the closing costs associated with buying a home are associated with getting the loan. Since Bob Rutledge Mortgage is highly experienced with mortgages & closings, we can help you understand your closing costs.
Very shortly after you apply for a loan, we will give you a "Loan Estimate" of your costs. The closing costs specified in the LE are estimated based on Bob Rutledge Mortgage's experience with mortgage loans, but costs usually vary a little bit between delivery of the LE and closing. We field questions about these costs every day at Bob Rutledge Mortgage, so don't hesitate to ask if we can help answer your questions.
We've provided a general list of closing costs below, but we will provide you a specific list of closing costs, with amounts, soon after you have completed your application. At Bob Rutledge Mortgage, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs Loan-Related Costs Up-front Interest Payment Escrow Fees TaxesCosts related to "originating" your loan Points — lower your interest rate (optional) Appraisal Fee Pulling YourCredit Report Property Taxes Insurance Transfer Taxes and Recording Fees Homeowners Insurance Flood / Earthquake Insurance Private Mortgage Insurance (PMI) Title Insurance
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